Discovery Ups OWN Spending by $50M

By Jon Lafayette
( Broadcasting & Cable )
published

Discovery Communications said it would be investing another
$50 million in the Oprah Winfrey Network.

The new funding comes on top of the $189 million Discovery
has already poured into the joint venture and will be spent on additional new
programming, said Discovery CFO Brad Singer.

In the fourth quarter, Discovery spent $40 million to $50 million
on OWN.

OWN launched on Jan. 1 and in its first month on the air,
its ratings were 33% above the ratings of the Discovery Health Channel it
replaced.

Discovery said it expects OWN to break even on an operating
basis in 2011.

Jon Lafayette
Jon Lafayette

Jon has been business editor of Broadcasting+Cable since 2010. He focuses on revenue-generating activities, including advertising and distribution, as well as executive intrigue and merger and acquisition activity. Just about any story is fair game, if a dollar sign can make its way into the article. Before B+C, Jon covered the industry for TVWeek, Cable World, Electronic Media, Advertising Age and The New York Post. A native New Yorker, Jon is hiding in plain sight in the suburbs of Chicago.